THE TICKER

Accounting changes' cost estimate pared

CHEVY CHASE, Md. — Mills Corp. said Friday that accounting changes will reduce shareholders' equity in the company by as much as $283 million, less than previously estimated.

The company, which is developing part of the Loop project formerly known as Block 37, said in August the planned restatements would lower stockholders' equity by $295 million to $315 million.

Mills subsequently decided that some changes should be accounted for as a change in accounting principles starting last year rather than as errors, reducing the impact on shareholders, the company said in a filing with the Securities and Exchange Commission.

Mills, facing cost overruns at its Meadowlands Xanadu project in New Jersey and an SEC accounting investigation, is seeking a buyer.

Last month, it secured financing for that project, in which it has invested $380 million.